Vietnam Mobile Payment Market Size, Share, Growth Analysis, By Technology(QR Code, NFC (Near Field Communication), Magnetic Secure Transmission (MST), SMS-based), By Application(Retail Payments, Transportation & Mobility, Bill Payments, Food & Beverage), By Mode of Transaction(Proximity Payment, and Remote Payment), By Region - Industry Forecast 2024-2031

The rapid economic growth of Vietnam has allowed international as well as domestic mobile payment providers to set up their business in the country. The competition between market players is fierce as they push to dominate the Vietnam mobile payment marketplace.

Local mobile payment providers are enjoying the benefits of client and brand loyalty while international companies face some challenges while competing with the local companies. International companies need to come up with specific strategies to make a mark in Vietnam as they try to attract Vietnamese customers to their business.

The expanding e-commerce and m-commerce spaces in the country provide a breeding growth for global mobile payment providers and also an opportunity for local companies to strengthen their market share. Easy cross-border transactions and money transfers are what international companies are focusing on to leverage their global presence.

The competition in the Vietnam mobile payment marketplace is projected to get fiercer in the future as companies try to boost their business. Partnerships, mergers, and acquisitions are also estimated to emerge as popular strategies for mobile payment providers operating in Vietnam. Better customer support and an expansive payment ecosystem are estimated to help companies boost their revenue in Vietnam going forward.

Top Player’s Company Profiles of Vietnam Mobile Payment Market

• MoMo (Vietnam)

• NganLuong (Vietnam)

• ZaloPay (Vietnam)

• ViettelPay (Vietnam)

• Alipay (China)

• Techcombank (Vietnam)

• AirPay (Vietnam)

• ShopeePay (Singapore)’

• Agribank (Vietnam)

• Timo (Vietnam)

• PayPal (United States)

• Moca (Vietnam)

• 1Pay (Vietnam)

• GrabPay (Singapore)

• SendoPay (Vietnam)

• VietinBank (Vietnam)

• SmartPay (Vietnam)

• VTC Pay (Vietnam)

• VNPay (Vietnam)

• ACB Bank (Vietnam)